Lawsuit Overview
Settlement Overview
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June 30, 2005 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
May 23, 2005 - The court held a final settlement hearing.
February 17, 2005 - Parties filed a stipulation of settlement.
February 15, 2005 - The court preliminarily approved the settlement.
February 15, 2005 - The court dismissed all claims against two defendants.
January 24, 2005 - Parties filed a stipulation of settlement.
December 20, 2004 - The court denied the lead plaintiff's motion for leave to amend the complaint and denied lead plaintiff's motion for reconsideration of the October 12, 2004 order.
October 27, 2004 - The lead plaintiff filed a motion for leave to amend the complaint and motion for reconsideration.
October 12, 2004 - The court granted in part and denied in part the numerous defendants' motions to dismiss, dismissing count V of the lead plaintiff's amended consolidated complaint.
October 7, 2003 - Additional defendants filed motions to dismiss.
October 1, 2003 - Additional defendants filed motions to dismiss.
September 9, 2003 - Additional defendants filed motions to dismiss.
August 26, 2003 - The defendants filed a motion to dismiss.
August 5, 2003 - The lead plaintiff filed an amended consolidated complaint.
June 12, 2003 - The lead plaintiff filed filed an amended consolidated complaint.
June 12, 2003 - Additional cases were consolidated.
March 21, 2003 - The court ordered all cases transferred to the U.S. District Court for Eastern District of Missouri and consolidated into a multi-district case.
January 16, 2003 - The lead plaintiff and lead counsel were appointed.
September 30, 2002 - Lead plaintiff motions were filed.
August 7, 2002 - Another investor filed a complaint n the U.S. District Court for the Eastern District of Missouri on behalf of investors who purchased Charter Communications Inc (NASDAQ: CHTR) common shares between November 9, 1999 and July 18, 2002.
July 31, 2002 - An investor in shares of Charter Communications Inc (NASDAQ: CHTR) filed a lawsuit in the U.S. District Court for the Central District of California against Charter Communications Inc over alleged violations of Federal Securities Laws Laws in connection with certain allegedly false and misleading statements made between November 9, 1999 and July 17, 2002.
The complaint charges Charter Communications Inc and certain of its officers and directors with material omissions and the dissemination of materially false and misleading statements regarding the nature of Charter Communications Inc's revenue and earnings causing Charter Communications Inc's stock price to become artificially inflated, inflicting damages on investors. The complaint further alleges that defendants overstated Charter Communications Inc's revenue, failed to appropriately account for installation costs and artificially inflated the number of subscribers forCharter Communications Inc's basic cable services. On July 18, 2002, when a Merrill Lynch analyst expressed concerns about potentially misleading accounting practices, Charter Communications Inc's stock fell more than 13%. Additionally, a subsequent article in Forbes discussed a Credit Suisse First Boston report that further amplified these concerns and described how Charter Communications Inc handles the impact of churn -- labor and advertising costs -- on Charter Communications Inc's balance sheet, by improperly capitalizing approximately 30% of its installation labor costs over an extended time period.